CMB.TECH NV (NYSE: CMBT) reported improved first quarter sales and earnings ahead of the opening bell, benefiting from stronger year-over-year business trends and favorable analyst comparisons.
The company’s quarterly performance included earnings of $1.27 per share, topping analyst views by $1.04 against expectations of earnings of $0.23 per share.
The firm announced quarterly sales of $519.63 million, topping consensus estimates by $109.42 million versus expectations of $410.21 million.
The company delivered year-over-year growth across both earnings and revenue, with earnings up 504.8 percent and revenue ahead by 121.1 percent.
“CMB.TECH is firing on all cylinders. We are reaping the benefits of a red-hot tanker market through a mix of sales of older vessels at stellar prices, a historically high spot market and the addition of lucrative long-term charters. At the same time, the dry bulk market is powering on in all segments, but specifically Capesizes and Newcastlemaxes. Our spot results have been strong during Q1 and will be even stronger in Q2.”, said Alexander Saverys, CEO of the company.
Shares of CMB.TECH NV are up 6.17% in pre-market trading, reaching a price of $16.00.
